Toys 'R' Us Philippine operations unaffected by US store closures
Expansion plans remain bullish as the Philippine company targets to open more stores within the year. Released
MANILA, Philippines — It is business as usual at Toys ”R” Us Philippines, although the global toy brand has been winding down in its operations in the United States.
Expansion plans remain bullish as the Philippine company targets to open more stores within the year, and with sales driven by the increasing purchasing power of Filipino consumers.
Andres Javes, the company’s president for Asia Pacific, said in a statement that the recent developments are saddening, but he reassured the public that the US liquidation does not impact partnerships in Asia.
“Across all our Asian markets, we continue to focus on our team members, business partners, and our customers. We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region. We continue to open new stores and give our customers great shopping experiences,” said Javes.
Toys “R” Us Philippines is a sub-licensee of specialist toy retailer Toys ”R” Us Asia, Ltd., and a joint venture with Fung Retailing Ltd, a privately-held entity and member of the Fung Group. Toys “R” Us Asia, Ltd. operates as a separate legal entity and is financially independent from all other Toys “R” Us operating companies around the world.
In the Philippines, Toys ”R” Us is operated by Robinsons Toys, Inc., a wholly-owned subsidiary of Robinsons Retail Holdings, Inc. (RRHI), with a total of 83 stores composed of 36 stand-alone branches and 47 “Toybox” sections in Robinsons Department Store branches.
Robina Gokongwei-Pe, President of RRHI, said that the company plans to continue its expansion plans and that the company remains one of the biggest specialty toy retailers in the country.
“Toys “R” Us is one of the most iconic toy stores in the Philippines and we believe we’ll stay in the industry for many years to come. The public is still fond of toys, both young and old. We are optimistic with future growth and we continue to improve our merchandise mix to keep up with the market. To make it more convenient for shoppers, we’ve also begun to bring in cashless payment platforms into our stores,” she said.
